L&T to set up greenfield plant in Oman for $ 50 mn

Business

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Published: Saturday, December 15, 2007, 17:33 [IST]

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New Delhi, Dec 15: Larsen&Toubro Heavy Engineering LLC (L&T HE) has signed a SUA (Sub-Usufruct Agreement) with Sohar Industrial Port Company (SIPC) to establish a green-field plant in Sohar, Oman for the manufacture of high-tech equipment for the Process Industry with an estimated investment of 50 million dollars.

''The SUA, signed yesterday, is to establish a green-field plant in Sohar, Oman for the manufacture of high-tech equipment for the Process Industry,'' a company statement said. It is anticipated that the project will be established with an initial investment of approximately 50 million dollars in Phase I. L&T HE is a joint venture between country's largest integrated engineering and construction company, L&T and Oman-based Zubair Corporation.

''This facility will be a pioneering venture in the GCC region and will have the capability to manufacture critical equipment for refineries, petrochemicals and fertilizer projects, and other process industries,'' the statement added.